Aug 15, 2009 1:00am EDT
come these people make $30 million or $40 million? barbara streisand makes $100 million a year, who is to decide what is too much? shannon: we have 60 days to review these packages, can he modify this? >> you raise a good point. this pay czar was never approved by the senate, he was simply appointed by the president. no one knows whether he has the constitutional authority to do this. shannon: how long does he stick around? >> you don't know. there are 33 czars. have never had so many, we had never had one for pay. i think the important point is that this is something for shareholders decidto decide. there is an executive committee that decides. the other thing that is important is that what we want to do is allowing these pay packages with the interest of the company so that if the company makes money, i have no problem with paying those executives money. if you're talking about g e or fred smith, who begrudges the person making millions of dollars for the company? shannon: a lot of legislation considered on the hill was discouraging risky behavior as being tied to these packages.